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today’s news for Tuesday, May 4, 2021

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NEWS FROM NASFAA

The Office of Federal Student Aid (FSA) has found a new chief operating officer (COO) to fill the leadership void, with Richard Cordray being announced by the Biden administration Monday as the next to lead the office, which manages the $1.6 trillion student loan portfolio.

Education Secretary Miguel Cardona on Monday outlined his agenda for federal education policy, touting investments in community college, reworking federal student loan programs, and ensuring student equity in recovery from the pandemic. The wide-ranging discussion was held during a seminar hosted by the Education Writers Association (EWA), where Cardona took questions while visiting the Community College of Baltimore County Catonsville Campus in Maryland.

Students from low-income backgrounds have increasingly fewer affordable higher education options available to them, according to a new report. The report from the National College Attainment Network (NCAN) found that less than a quarter of public four-year institutions were considered affordable for a student receiving an average-sized Pell Grant award for the 2018-19 academic year, and less than half of two-year public colleges were affordable during the same time period.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA Membership to Hold Annual Business Meeting Virtually on May 25

NASFAA's annual Awards Ceremony and Business Meeting this year will be conducted virtually at 2:00 p.m. ET on May 25, 2021 as part of the Policy Update Webinar. NASFAA's Bylaws dictate that the association must meet annually for the purpose of transacting all business which may be brought before the membership. The meeting will include reports on NASFAA's financial status, governance and oversight, and diversity efforts.

Webinar Logo

Effective July 1, 2021, substantial changes are coming to the return of Title IV funds (R2T4) requirements for programs offered in modules. Join NASFAA’s Amanda Sharp and David Futrell, Wednesday, May 19 at 2:00 p.m. ET for a detailed discussion of the new rules. They will share scenarios and examples to help schools determine when a student is considered a withdrawal from a payment period or period of enrollment that includes modules; how to apply new R2T4 exemptions; and new rules for students who graduate early from clock-hour programs. July 1 will be here soon, so make sure your school is ready. Register now.

FAAC Logo

NASFAA is hosting a webinar tomorrow, May 5, at 2:00 p.m. to discuss the maintenance phase of the FAAC®  designation. Panelists Shannon Crossland, Anafe Robinson, and Ryan West will share their strategies for earning recertification points and why they believe what happens after you pass the exam is one of the most important and rewarding aspects of the program. Register online for this free, 60-minute webinar. 

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